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- Title
PLANNING FOR THE SPECIAL NEEDS BENEFICIARY.
- Authors
Rogers, Michael F.
- Abstract
The article focuses on financial estate planning for family members with special needs. The United States government offers need based benefits to many physically or mentally handicapped people, who could lose this aid were they the beneficiary of resources above a certain base level. Because of this, many who are planning the distribution of their estate will choose to leave money to another recipient on a special needs family member's behalf. Various problems with this plan are listed, such as additional taxation and recipient financial liability. Instead, the author recommends a well drafted trust fund, possibly with second-to-die life insurance.
- Subjects
UNITED States; ESTATE planning; PEOPLE with intellectual disabilities; INHERITANCE &; transfer tax; FINANCIAL planners; IRREVOCABLE trusts; INCOME in respect of decedent; GIFTS causa mortis; INSURANCE; LIFE insurance companies
- Publication
Journal of Financial Service Professionals, 2006, Vol 60, Issue 2, p8
- ISSN
1537-1816
- Publication type
Article